Stock Movers

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Nike (NKE) is cutting jobs and overhauling the business as results deteriorate, with a restructuring plan expected to save $2.5 billion over the next five years. The company announced weaker-than-expected sales for the latest quarter and a disappointing outlook for this fiscal year, with a high-single-digit revenue decline expected. Nike shares fell as much as 8.9% after the announcement, with at least 10 analysts lowering their price targets for the stock, which has now fallen 49% this year.

- Shares of Western Digital and Seagate Technology are both dropping on Friday, after Nikkei reported that Toshiba would invest ¥60 billion to double its production capacity for hard disk drives. However, analysts see low risk from the report.

- Freeport-McMoRan (FCX) shares rose as much as 4% after the miner said that its third-quarter copper production and sales results are expected to meet guidance.
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On this episode of Stock Movers:
- Nike (NKE) shares slump. Nike Inc. is cutting jobs and overhauling the business as results deteriorate, with a restructuring plan expected to save $2.5 billion over the next five years. The company announced weaker-than-expected sales for the latest quarter and a disappointing outlook for this fiscal year, with a high-single-digit revenue decline expected.

- FICO (FICO) shares rise following a selloff earlier this week. This bounce comes following investor concerns over increased competition in the mortgage credit scoring sector.
- Seagate Technology (STX) shares drop on a report Toshiba is building supply. Seagate shares are in a trading range since June, with two failed breakouts. They are currently indicated to gap below 50-DMA, 100-DMA’s on the open.
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On this episode of Stock Movers:
- Nike (NKE) shares slump. Nike Inc. is cutting jobs and overhauling the business as results deteriorate, with a restructuring plan expected to save $2.5 billion over the next five years. The company announced weaker-than-expected sales for the latest quarter and a disappointing outlook for this fiscal year, with a high-single-digit revenue decline expected.
- Integra Life Sciences (IART) shares sink after the medtech company cut its revenue and profit forecast for the full year, citing impact from a facility flooding. The firm also gave preliminary revenue for the third quarter that fell short of Wall Street’s estimates.
- Boeing (BA) shares are mixed. Boeing Co.'s unionized white-collar workers voted to ratify a new contract, averting a costly strike that could have added certification delays to the planemaker's latest models. SPEEA-represented workers will see an average pay increase of 32% over four years under the latest proposed contract, in addition to an immediate 10% pay raise.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nike (NKE) shares continue their slide as it is cutting jobs and overhauling its business as results deteriorate, with a restructuring plan to save $2.5 billion over the next five years. The company expects a high-single-digit revenue decline this year, which is worse than the 2.4% drop projected by analysts, and shares of Nike fell as much as 9.7% in New York on Friday.
- Broadcom (AVGO) shares are moving on news the company's Wall Street syndicate are starting to gather $60 billion of fresh AI chip financing to benefit Anthropic and other companies.
- Fair Isaac Corp. (FICO) shares are rising after the company launched the FICO Mortgage Direct License Program, and Bill Pulte signaled he wasn't purposefully targeting the company, which may have contributed to the stock's rise on Thursday.
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The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs.
Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months, according to Bureau of Labor Statistics data out Friday. That missed all estimates in a Bloomberg survey of economists.
The unemployment rate rose to 4.2%, partly reflecting a growing workforce.
Bloomberg’s Tom Keene and Paul Sweeney get reaction from:
Claudia Sahm, Chief Economist at New Century Advisors
Rebecca Patterson, Senior Fellow at Council on Foreign Relations
Kristina Campmany, Senior Portfolio Manager at Invesco
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